WE RECOMMENDED BHARATI ON JULY 14 TH AND ON AUG 11 TO OUR CLINETS BELOW IS THE MAIL WE SENT
Here’s Bharti Telecom Daily Chart
As you can see in the chart above – Bharti
Telecom stock has broken out above 365-368. Despite negative market
environment – Bharti stock saw buying
on Friday and stock closed at 374. It’s a clear indication that stock
wants to move higher. Technically, the next target is 440. The stop loss
should be placed below 360.
MAIL ON JULY : BUY BHARTI FUT @ 330-335 SL 3% LOWER TGT 350-370- BOOKED 37,000 RS PROFIT
Well Let us look at the daily chart
Bharti Enterprises stock has a stiff resistance at 370
As you can see in the daily chart above: Bharti stock in last 2 years has many times come off from 370. This level has become a psychological barrier for the stock and as long as stock trades below 370 -it will lack momentum. Having said that considering Bharti has lots of weight age on Nifty, it will always find support at lower levels.
Lets plot 50 dma on the same chart
Bharti is right now at 50 dma and one cannot rule out strong buying support at current levels to take the stock once again back to 370. Remember – last time Bharti stock got big lift from 50 dma. Will that happen again? Technically YES, but no guarantee.
Historically it has been seen that when markets turn sideways – it is stocks like Bharti that tend to outperform. Will that happen again? I don’t know – we will see
Well Let us look at the daily chart
Bharti Enterprises stock has a stiff resistance at 370
As you can see in the daily chart above: Bharti stock in last 2 years has many times come off from 370. This level has become a psychological barrier for the stock and as long as stock trades below 370 -it will lack momentum. Having said that considering Bharti has lots of weight age on Nifty, it will always find support at lower levels.
Lets plot 50 dma on the same chart
Bharti is right now at 50 dma and one cannot rule out strong buying support at current levels to take the stock once again back to 370. Remember – last time Bharti stock got big lift from 50 dma. Will that happen again? Technically YES, but no guarantee.
Historically it has been seen that when markets turn sideways – it is stocks like Bharti that tend to outperform. Will that happen again? I don’t know – we will see
MAIL ON AUG : BUY BHARTI @ 365 SL BELOW 360 TGT 420-440 LOT SIZE 1000--NOW SITTING WITH MORE THAN 40,000 PROFIT
Breakout on Daily Chart: Bharti Telecom breakout above 370 looks for realHere’s Bharti Telecom Daily Chart
SEE WHAT HAPPENED NOW
What happened? : The stock made a low of 333 which it respected for a month and then rallied to 370 and even moved past it-STILL HOLDING
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